Virginia Capital Access Program (Virginia)
Last modified on February 12, 2015.
|Applies to States or Provinces||Virginia Virginia|
|Name||Virginia Capital Access Program (Virginia)|
|Policy Category||Financial Incentive|
|Policy Type||Loan Program|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy|
|Program Administrator||Virginia Small Business Financing Authority|
| Last Substantive Modification
The Virginia Capital Access Program (CAP), in partnership with Virginia’s Small Business Financing Authority, provides access to capital for small businesses. Businesses must apply to participating banks for a traditional loan, and the lender advises the company of enrollment in CAP. The program offers loan guarantees on a portfolio of loans through a loan loss reserve, which it establishes at each participating bank. Funds can be used for general working capital and fixed-asset financing. The maximum loan amount is $250,000.
|Department||Virginia Economic Development Partnership|
|Address||901 East Byrd Street|
|Address 2||P.O. Box 798|
|Department||Virginia Department of Business Assistance|
|Division||Virginia Small Business Financing Authority|